Truist Financial Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $50.00

Rexford Industrial Realty (NYSE:REXR) had its price target cut by Truist Financial from $54.00 to $50.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on REXR. JPMorgan Chase & Co. raised their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Stock Down 3.2 %

REXR opened at $41.39 on Tuesday. Rexford Industrial Realty has a twelve month low of $41.36 and a twelve month high of $58.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The business has a 50 day moving average price of $47.41 and a 200 day moving average price of $47.10. The firm has a market cap of $9.20 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. Research analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.03%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in REXR. Fisher Asset Management LLC increased its position in shares of Rexford Industrial Realty by 9.2% during the 3rd quarter. Fisher Asset Management LLC now owns 66,766 shares of the real estate investment trust’s stock worth $3,359,000 after purchasing an additional 5,604 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Rexford Industrial Realty by 19.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust’s stock valued at $72,870,000 after purchasing an additional 237,624 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Rexford Industrial Realty by 5.6% in the third quarter. Cerity Partners LLC now owns 39,332 shares of the real estate investment trust’s stock valued at $1,979,000 after purchasing an additional 2,075 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after purchasing an additional 431,659 shares during the period. Finally, Intech Investment Management LLC grew its stake in Rexford Industrial Realty by 160.3% in the 3rd quarter. Intech Investment Management LLC now owns 19,161 shares of the real estate investment trust’s stock valued at $964,000 after buying an additional 11,800 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.